Red Sea Housing Company is establishing its presence in KAEC and contributing to the overall economic and social development of the City. The company is set to begin construction of a SR50 million labor complex, spread across a 150,000 sq. m. area in KAEC by the second quarter of 2014 to accommodate the workforce that is involved in the completion of KAEC and the staff of companies operating within the City. The company is also planning to build its fourth manufacturing facility in KAEC as part of its ongoing expansion strategy in Saudi Arabia. The 193,000 sq. m. production facility is set to increase the company's overall production capacity by 35 percent, to reach a total of 1 million sq. m. annually. “This plan to build and operate a plant is definitely a strategic one and will have a very positive impact on Red Sea Housing. I congratulate the directors of Red Sea Housing on having made a significant investment decision and look forward to giving them all assistance in establishing their new plant in KAEC,” said Fahd Al-Rasheed, Managing Director and CEO of KAEC. Commenting on the strategic agreement that Red Sea Housing has signed with KAEC, Donnie Sumner, Vice President of KSA Operations of Red Sea Housing, commented: “While investigating possible expansion locations within Saudi Arabia there was little doubt that KAEC was the place for us to be. “We were attracted by the numerous benefits such as the world-class infrastructure and ease of doing business, which includes fast-tracking of permits, as well as the strategic location close to King Abdullah Seaport and the upcoming rail network, both of which give us tremendous logistical advantages in supporting our ongoing expansion strategy in Saudi Arabia's west cost.” Red Sea Housing has vast experience in building prefabricated and quality-certified labor housing for projects in remote locations. Accordingly increasing investments in this field will increase RSH's business as well as will entitle the company to further its presence as one of the major companies in the market offering quality services. RSH already have a proven track record of completing prefabricated houses that exceed the expectations of end-users and the company's partners. — Agencies
